What is a current issue related to professional auditing practices?

The increased focus on joint audits is a current issue in professional auditing practices as it reflects a response to the need for enhanced audit quality and greater accountability. Joint audits involve multiple audit firms working together to conduct an audit, which aims to reduce the risk of error and fraud by introducing diverse perspectives and expertise. This approach can help increase transparency and build investor confidence, particularly in large, complex organizations.

The trend towards joint audits is also driven by regulatory developments and an increasing recognition of the importance of quality in financial reporting. This practice can help mitigate risks related to complacency that may arise when a single firm consistently audits the same client over many years. By promoting competition and a critical evaluation of each other's work, joint audits may contribute to improved audit quality overall.

In contrast, the other options represent trends that do not align with the current focus in the audit profession. For instance, a reduction in the use of technology would hinder efficiency and accuracy in audits rather than reflect current trends, which emphasize the integration of technology. A decline of professional skepticism undermines the integrity of the audit process and is not an issue being actively promoted or sought after within the profession. Lastly, while climate change disclosures are receiving more attention, the auditing community is increasingly recognizing their importance, and